COMPANY REGISTRATION NUMBER:
SC429198
E M CABLE HOLDINGS LIMITED |
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
E M CABLE HOLDINGS LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
31 December 2023
FIXED ASSETS
Investments |
4 |
|
2,521,082 |
2,521,082 |
|
|
|
|
|
CURRENT ASSETS
Cash at bank and in hand |
100 |
|
100 |
|
---- |
|
---- |
NET CURRENT ASSETS |
|
100 |
100 |
|
|
------------ |
------------ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
2,521,182 |
2,521,182 |
|
|
------------ |
------------ |
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
5 |
|
100 |
100 |
Profit and loss account |
|
2,521,082 |
2,521,082 |
|
|
------------ |
------------ |
SHAREHOLDER FUNDS |
|
2,521,182 |
2,521,182 |
|
|
------------ |
------------ |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
20 March 2024
, and are signed on behalf of the board by:
Mr Steven Thomson |
|
Director |
|
|
|
Company registration number:
SC429198
E M CABLE HOLDINGS LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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YEAR ENDED 31 DECEMBER 2023
1.
GENERAL INFORMATION
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit 4C, Wellheads Way, Dyce, Aberdeen, AB21 7GF.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis
. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company's forecast and projections, taking account of reasonable changes in trading performance, indicate that the company plans to operate within cash generated. The Board of Directors confirm that, after making appropriate enquiries, it has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, it continues to adopt the going concern basis in preparing these Financial Statements.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs./The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
INVESTMENTS
|
Subsidiary companies |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
2,521,082 |
|
------------ |
Impairment |
|
At 1 January 2023 and 31 December 2023 |
– |
|
------------ |
|
|
Carrying amount |
|
At 31 December 2023 |
2,521,082 |
|
------------ |
At 31 December 2022 |
2,521,082 |
|
------------ |
|
|
The company owns 100% of the issued ordinary share capital of EM Cable Services (North Sea) Limited, a company registered in Scotland.
5.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
6.
RELATED PARTY TRANSACTIONS
The company received dividends during the year from its subsidiary company amounting to £445,000 (2022 - £50,000). At the year end, the company was due to pay £Nil (2021 - £Nil) to subsidiary company.
7.
CONTROLLING PARTY
Throughout the current and previous year the company was owned and controlled by its sole director,
Mr Steven Thomson
. In the current year, Mr Steven Thomson
received a dividend of £445,000 (2022 - £50,000).